According to La Gazzetta dello Sport, Como will not face Financial Fair Play restrictions in the Nico Paz transfer, but will need to sign a settlement agreement with UEFA.

Previously, Como's negotiations with Real Madrid over Nico Paz stalled due to Financial Fair Play restrictions following their qualification for next season's Champions League. Here's how they can complete the signing without triggering sanctions:

"In spring 2027, UEFA officials in Nyon will review Como's financial documents for their first assessment. They will base this on the financial reports from the last three fiscal years: 2023-24, 2024-25, and 2025-26. Clubs must not have outstanding debts, and cumulative losses over three years cannot exceed €60 million; if the financial situation is sound, the limit can be increased by €10 million for each fiscal year. This is known as the football profitability rule. Additionally, annual spending on first-team salaries, transfer amortization, and agent commissions cannot exceed 70% of total revenue (squad cost rule). Based on already-approved financial reports, Como will certainly exceed this limit. In the 2023-24 season, their final year in Serie B, the deficit reached €50 million; in the 2024-25 season, their first after promotion to Serie A, losses jumped to a combined €132 million, with Como 1907 itself accounting for €105 million and the remainder from related businesses. For the fiscal year ending June 30, the situation is expected to improve as revenue growth will outpace costs, but our estimates show the imbalance will remain significant, still approaching €100 million. Even excluding spending considered beneficial investments such as youth academy, women's football, and infrastructure, the total result over three years will still far exceed the permitted limit," La Gazzetta dello Sport analyzes.

"At that point, Como will agree to a settlement agreement with UEFA lasting 3 to 4 years, as many clubs have done in the past. At that time, the club from Lake Como will need to control spending strictly, and their UEFA squad list composition is also expected to be restricted. Amendments introduced after the COVID-19 pandemic effectively encourage clubs to inject capital rather than accumulate debt, as the loss tolerance threshold has been raised, provided losses are covered by shareholder contributions. UEFA supports projects built on rational investment and shareholder backing, which is precisely what Como intends to do. Since 2019, the Hartono family has injected €390 million into the English parent company Sent Entertainment, with the goal of providing the resources the club needs to increase competitiveness and build an ecosystem that can diversify revenue streams. As of June 30, 2025, Como Group's net assets are €54 million, with no bank debt."

"We are still in an expansion phase, and launching new businesses also brings additional costs, from the youth academy to the club shop. The goal is to achieve sustainability in the medium to long term. To do this, we must continue to perform well on the pitch while leveraging the commercial and tourism advantages of the lake region, since Como cannot rely on a large local fan base like major city clubs. Player trading will also be crucial, which is another challenge: generating enough revenue to cover costs. Champions League prize money, especially if earned consistently, will help. In any case, for now, Como is 'clear' in UEFA's eyes," La Gazzetta dello Sport added.

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